Question #15215

If a college freshman Invests 10000 Gift at 8 % per ammun. Convertible quartly , how much can be withdrawn at the end of every quarter to use up the fund in exactly four years

Expert's answer

S=((((10000-4x)*1.08-4x)*1.08-4x)*1.08-4x)*1.08=0

We receive x=699

We receive x=699

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